Bank of America Corp DE Has $76.36 Million Holdings in Kayne Anderson BDC, Inc. $KBDC

Key Points

• Bank of America increased its Kayne Anderson BDC stake by 2.7% in the first quarter, holding 5.57 million shares worth approximately $76.36 million, or 8.39% of KBDC.
• KBDC reported quarterly earnings of $0.43 per share, beating analyst expectations of $0.41, while revenue totaled $24.86 million. Analysts expect full-year earnings of $1.62 per share.
• Analyst sentiment is moderately bullish, with two Buy and two Hold ratings and a consensus price target of $15.12, compared with the stock’s recent price of $14.07.

Bank of America Corp DE raised its stake in Kayne Anderson BDC, Inc. (NYSE:KBDC - Free Report) by 2.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,565,223 shares of the company's stock after purchasing an additional 143,854 shares during the period. Bank of America Corp DE owned approximately 8.39% of Kayne Anderson BDC worth $76,355,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Koch Inc. bought a new stake in shares of Kayne Anderson BDC in the 2nd quarter worth approximately $185,887,000. State of Michigan Retirement System bought a new position in shares of Kayne Anderson BDC during the 4th quarter worth about $94,036,000. Pathstone Holdings LLC boosted its position in shares of Kayne Anderson BDC by 612.8% during the 3rd quarter. Pathstone Holdings LLC now owns 1,446,054 shares of the company's stock valued at $19,261,000 after acquiring an additional 1,243,181 shares in the last quarter. Van ECK Associates Corp acquired a new stake in shares of Kayne Anderson BDC during the 4th quarter valued at about $11,804,000. Finally, UBS Group AG increased its stake in Kayne Anderson BDC by 265.0% in the fourth quarter. UBS Group AG now owns 576,812 shares of the company's stock valued at $8,260,000 after acquiring an additional 418,789 shares during the period.

Kayne Anderson BDC Price Performance

Kayne Anderson BDC stock opened at $14.07 on Monday. The business's fifty day moving average is $13.85 and its two-hundred day moving average is $14.09. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.15 and a current ratio of 1.15. The firm has a market cap of $933.61 million, a P/E ratio of 10.99 and a beta of 0.31. Kayne Anderson BDC, Inc. has a 52 week low of $13.06 and a 52 week high of $15.87.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) last announced its earnings results on Monday, May 11th. The company reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.02. Kayne Anderson BDC had a return on equity of 10.47% and a net margin of 37.30%.The company had revenue of $24.86 million during the quarter, compared to analyst estimates of $52.40 million. Equities research analysts forecast that Kayne Anderson BDC, Inc. will post 1.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on KBDC. UBS Group increased their price target on shares of Kayne Anderson BDC from $14.50 to $15.00 and gave the stock a "neutral" rating in a research report on Monday, April 20th. Wells Fargo & Company reiterated an "equal weight" rating and issued a $14.00 price objective (down from $15.00) on shares of Kayne Anderson BDC in a research note on Friday, June 12th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Kayne Anderson BDC currently has an average rating of "Moderate Buy" and a consensus price target of $15.12.

Kayne Anderson BDC Company Profile

Kayne Anderson BDC, Inc NYSE: KBDC is a closed-end, non-diversified management investment company structured as a business development company under the Investment Company Act of 1940. The firm focuses on providing bespoke financing solutions to U.S. middle-market companies, offering first-lien and second-lien secured loans, unitranche facilities, mezzanine debt and selected equity co-investments. KBDC targets businesses with EBITDA profiles generally ranging from $10 million to $100 million, aiming to generate attractive income and potential capital appreciation for shareholders.

The company's portfolio spans a variety of sectors, including healthcare, technology, energy services, consumer products and industrials.

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